We have all heard the alcohol horror stories, but it remains a very, very, very popular psychoactive drug – like it or not! There are some things about the psychoactive effects of alcohol that keep it attractive to many people. After reading about the biochemistry of alcohol, explain why it remains so popular. Personal opinion MUST be founded on what you have learned about the biochemistry of this drug. DO NOT WRITE ANYTHING NEGATIVE ABOUT ALCOHOL. WE ALREADY KNOW ABOUT THAT.
Suppose that the total revenue received by a company selling basketballs is $600 when the price is set at $30 per basketball and $600 when the price is set at $20 per basketball. Without using the midpoint formula, identify whether demand is elastic, inelastic, or unit-elastic over this price range.
Please respond to one (1) of the following two (2) bulleted items:
- From the activity, summarize the blog entry that you have read. Next, explain the manner in which Nate Silver’s analysis in your chosen blog entry addresses the salient points of one particular topic related to this class.
- H.G. Wells once said, “Statistical thinking will one day be as necessary for efficient citizenship as the ability to read and write!” Take a position on whether you agree or disagree with this statement, and provide a rationale for your response.
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